6) You are looking at an apartment listing in Cleveland, OH for a 26-unit building that yields $31,050 per month gross rent if fully occupied, but

6)You are looking at an apartment listing in Cleveland, OH for a 26-unit building that yields $31,050 per month gross rent if fully occupied, but currently has 10% and total management costs of 35% of the rent collected. If the building is listed for $1,550,000, what is its cap rate?

7)An apartment building was recently sold for $3,650,000. The County Assessor has determined that the building's value is allocated with 36% land value. What is the annual allowable tax shelter from depreciation, assuming a 30-year straight-line method?

8)Sally is looking to buy a triplex. She figures she can rent each of the three units for $2100 per month. She has done some research and has determined net operating expenses to be $40,000 per year. Her desired cap rate is 7%. What is the appraisal value of this property using the income capitalization approach?